bed: 3 Â Â bath: 2 Â Â sq ft: 1,554 Â Â year built: 2008
bed: 3 Â Â bath: 2 Â Â sq ft: 1,554 Â Â year built: 2008
625
$205,000
0%
Strategic Refinance Candidate$1,495
12/5/2023 Status Update: The tenants have voluntarily vacated and this home is no longer in eviction. The Mongtomery is being prepared for the rental market.
11/3/23 Eviction Status Update: As of October 18, there has been no update and we are currently awaiting the Sheriff's lockout.
10/5/23 Eviction Status Update: On 9/7, the property management notified us of the eviction process status. We are still waiting for the court to issue the default judgment. On 9/13, we initiated a Tree Line order to proceed with the eviction. However, this order is pending until the court signs the eviction order. As of 10/5, we are in a holding pattern, awaiting the court's signature on the eviction order. Once that occurs, we can move forward with scheduling the lockout date and regaining possession of the property.
The Montgomery is a 3-bedroom, 2-bathroom home in Montgomery, Alabama. With an attached 2-car garage, this home is both stylish and practical. It features large living areas, spacious bedrooms, stainless steel appliances, and much more. Outside, you'll find a beautiful backyard, perfect for hosting outdoor gatherings and BBQs.
Address: 424 Tree Line Drive, Montgomery, AL 36117
Market preparation
July 2023
Timeline to Rent
The time needed to sign the first tenant lease is variable and can depend on several factors including seasonality and whether the property requires any sort of renovation. Historically the average time to lease has been 45 days and has ranged from a minimum of 7 days to over 90 days.
For more details on each status, check out the different rental statuses here.
$17,940
— 7.2% Gross Yield
-
$5,806
$12,134
Cash Flow
Ă·
$247,640
Raise Amount
4.9%
Based on data from the Zillow Value Home Index (ZHVI) Single Family Homes Time Series, single family homes have appreciated 4.5% per year on average for the last 20 years.
This data is based on a national average for Single family homes in the 35th to 65th percentile range by home prices according to the Zillow Home Value Index. This is a national average and may not represent actual performance of this property's zipcode. In addition to property appreciation, equity returns also depend on real estate investment costs, hold period, and leverage. For more information, refer to the Offering Circular.
Use our returns calculator below to see how hypothetical property performance may impact your investment.
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Montgomery is Alabama's capital and second-largest city, with approximately 200,000 people. The city is known for its rich history, vibrant culture, and diverse economy. Montgomery's cultural scene is rich and diverse, with several museums, theaters, and music venues, including the Montgomery Museum of Fine Arts, the National Memorial for Peace and Justice, and the Montgomery Performing Arts Centre. The city also hosts several yearly music festivals, including the Alabama National Fair and the Jubilee CityFest. The economy of Montgomery is driven by a mix of industries, including healthcare, education, government, manufacturing, and service. It's also home to several colleges and universities, including Alabama State University and Faulkner University, which significantly contribute to the city's economy. Montgomery's mix of industries and affordable cost of living make it an attractive destination for businesses, families, and investors.
Property Purchase Price
$205,000
Property Improvements & Cash Reserves
$20,500
Closing Costs, Offering Costs & Holding Costs
$14,969
Arrived Sourcing Fee (One-time)
$7,170
$247,639
$0
$247,640
IPO Price Per Share
$10
Total Shares
24,764
5-7 years
$308
How Arrived works
Arrived acquires rental properties into an LLC and sells shares in that LLC to the general public. Arrived then manages the day to day operations including finding tenants and completing repairs. Investors receive cash dividends from rental income each quarter and capture any property value appreciation.
What returns can I expect
Investing in Arrived rental properties can deliver returns to investors in two different ways:
1) Dividends from the rental income on each property; currently paid out to investors quarterly
2) Appreciation from the change in property value that will be realized at the end of the investment hold period
What to expect if my property is still seeking a tenant
We are currently focused on marketing the rental homes to prospective tenants and will email you when a new lease has been signed. Arrived's strategy for seeking tenants is focused on signing 2 year leases, achieving market rent, and thoroughly vetting applicants. Though it may take a bit more time to lease out the homes, we believe these standards provide our investors the best way to maximize returns over the long term.
Diversification
With real estate, it can be beneficial to invest in multiple properties and markets to achieve portfolio diversification. Diversifying your portfolio can be a good way to reduce exposure to risk from an individual property, tenant, or market forces.
Investing horizon & liquidity
Currently investors will need to plan to hold their shares for the full investment period until the property is sold and investors are paid their proportional proceeds from the sale. We anticipate establishing a mechanism to facilitate secondary trading in accordance with the rules and regulations of the U.S. Securities & Exchange Commission (SEC) as an option for liquidity during the investment period, however there can be no guarantee when that will be available. Please submit your email if you would like to be notified of future developments.
Arrived strives to give investors the opportunity to build wealth through real estate. Historically, real estate returns have been maximized when treated as a long-term investment over multiple years. Arrived property offerings typically have a 5 year minimum investment period before a property would be sold.
Disclaimer:
There is currently no public trading market for our Interests, and an active market may not develop or be sustained. There is no guarantee that appropriate regulatory approval to permit such secondary trading will ever be obtained. If an active public trading market for our securities does not develop or is not sustained, it may be difficult or impossible for you to resell your shares at any price before the end of the investment period. Even if a public market does develop, the market price could decline below the amount you paid for your shares, and there may be fees involved. Please refer to our offering circular for more details regarding potential distributions.
No need to worry, all Arrived rental properties go through our rigorous selection process and have been pre-vetted for their investment potential by our acquisitions team (more info). Rather than focusing on selecting individual properties to invest in, many Arrived investors simply distribute their investment across several available properties to achieve portfolio diversification.
100% shares purchased
$247,640
Invested
Invested